FOR IMMEDIATE RELEASE 99-104
Statement by SEC Chairman Arthur Levitt on NASDAQ's Decision
To Extend Trade Reporting and Quotation Systems Hours
Washington, DC, August 27, 1999 -- Securities and
Exchange Commission Chairman Arthur Levitt today issued the
following statement:
"The after-hours market presents special risks to the
investor, including volatility and widely scattered
prices of varying quality. We are pleased that NASDAQ
has taken steps to make these prices visible to after-
hours investors. This will also help broker-dealers
fulfill their duty of best execution, which is crucial
to the protection of investors in this still
unchartered territory. We urge the industry to take
advantage of the benefits of this important
initiative."
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